Federated Hermes, Inc. (NYSE:FHI) Stake Trimmed by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 13.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,953 shares of the company's stock after selling 16,609 shares during the period. New York State Teachers Retirement System owned approximately 0.14% of Federated Hermes worth $4,483,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of Federated Hermes by 112.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company's stock worth $109,000 after buying an additional 1,400 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Federated Hermes by 19.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company's stock worth $37,618,000 after purchasing an additional 145,878 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Federated Hermes during the 4th quarter worth about $3,367,000. Kendall Capital Management boosted its stake in shares of Federated Hermes by 13.4% during the 4th quarter. Kendall Capital Management now owns 65,925 shares of the company's stock worth $2,710,000 after purchasing an additional 7,790 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in shares of Federated Hermes by 19.9% during the 4th quarter. AlphaQuest LLC now owns 64,141 shares of the company's stock worth $2,637,000 after purchasing an additional 10,644 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Paul A. Uhlman sold 6,057 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total transaction of $255,241.98. Following the completion of the transaction, the vice president owned 316,930 shares of the company's stock, valued at approximately $13,355,430.20. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.80% of the company's stock.

Federated Hermes Stock Performance

Federated Hermes stock traded up $0.40 during mid-day trading on Thursday, reaching $46.30. The company's stock had a trading volume of 438,742 shares, compared to its average volume of 734,324. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 0.85 and a beta of 0.78. The business has a 50 day moving average price of $42.95 and a 200-day moving average price of $40.35. The company has a current ratio of 3.04, a quick ratio of 2.35 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a twelve month low of $31.94 and a twelve month high of $46.84.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.19. Federated Hermes had a net margin of 17.74% and a return on equity of 32.17%. The company had revenue of $423.54 million during the quarter, compared to the consensus estimate of $425.43 million. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. Sell-side analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.34 per share. This is an increase from Federated Hermes's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 2.94%. Federated Hermes's payout ratio is 38.31%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. TD Cowen lowered shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lifted their price objective on shares of Federated Hermes from $39.00 to $40.00 and gave the company an "underweight" rating in a research note on Wednesday. Wall Street Zen upgraded shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Royal Bank Of Canada raised their price target on shares of Federated Hermes from $43.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Federated Hermes has an average rating of "Hold" and an average price target of $42.50.

About Federated Hermes

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.